China’s mega banks lost billions of dollars in profit as bad loans rise during coronavirus pandemic

The five largest Chinese banks posted at least 10% year-on-year fall in profits during the first half of 2020 as they set aside more funds for potential loan losses in the coming months.The five largest Chinese banks posted at least 10% year-on-year fall in profits during the first half of 2020 as they set aside more funds for potential loan losses in the coming months.